Money & Banking

2015 has been a marquee year for Credit Suisse in India, says MD

Our Bureau Pune | Updated on January 22, 2018 Published on November 24, 2015


Optimistic about 2016; to expand Pune operations, hire 1,000 more

The Indian arm of Zurich-based bank and financial services provider Credit Suisse has had a good year with a series of successes in the mergers and acquisitions space, and is optimistic about the year ahead.

“This year has been a marquee year for us,” Mihir Doshi, MD and Country Head, Credit Suisse, said. CS is working on two situations that are still in the private domain, he said, adding: “We are clearly optimistic about next year.” Amongst the deals that CS closed this year was the sale earlier this month by Polaris Consulting of 53 per cent stake to Virtusa for ₹1,172 crore. CS was also advisor to Mumbai-based Famy Care whose women’s health business was acquired by US-based Mylan for ₹5,000 crore, and it played a role in Alibaba acquiring a stake in e-commerce firm Snapdeal.

Ranjit Anand, Head, Pune operations, said that the bank will add around 1,000 people to its current headcount of 3,200 at Pune over the next two years.

On whether CS has set up a subsidiary in accordance with the RBI guidelines for foreign banks, Doshi said that this was being looked at. He also ruled out any further expansion of the bank’s presence, saying that the two in Mumbai and Delhi were addressing client needs well enough. Doshi was speaking to newspersons at the new expanded facility into which the Pune operations recently moved. The new building is the first “smart working” facility for the bank in India.

Published on November 24, 2015
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